August 06, 2006
Digg's Business Week Cover
Posted by Gordon Smith

This cover and its accompanying story have been getting a lot of play on the blogs ...

Diggcoverbusinessweek
Check out Jason at 37signals, Scott at Wordyard, Mike at 9rules, and Paul at Infectious Greed ... in decreasing order of outrage.

The problem is that Kevin Rose has not made $60 million from Digg. Not even close.

Where did BW get that number? The article contains these sentences: "So far, Digg is breaking even on an estimated $3 million annually in revenues. Nonetheless, people in the know say Digg is easily worth $200 million." Add this sentence: "Rose ... owns 30% to 40% of the company (he won't specify)." And voila! You get $60 million! (Or $80 million! Why not $80 million on the cover? Were they really trying to be conservative?)

Well, if the point was to get me to read the article, it worked.

Businesses of Note, Entrepreneurs, Internet | Bookmark

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Comments (2)

1. Posted by Eric Goldman on August 7, 2006 @ 21:37 | Permalink

You mean to tell me...paper profits are the same as cash in the bank???

("Gallows humor" from someone who has been there).

Eric.


2. Posted by Eric Goldman on August 7, 2006 @ 21:38 | Permalink

Crud...I meant to say "are not" the same...

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